22.)If people eventually adjust their inflation expectations so that in the long

Question

22.)If people eventually adjust their inflation expectations so that in the long run actual and expected inflation are the same, then policymakers a. can exploit a tradeoff between inflation and unemployment in the short run but not in the long run.
b. can exploit a tradeoff between inflation and unemployment in the long run, but not the short run.
c. can not exploit a tradeoff between inflation and unemployment in either the short or long run.

d.) can exploit a tradeoff between inflation and unemployment in both the short run and the long run.

23.) Which of the following is correct according to the long-run Phillips curve? a. Changes in the money supply growth rate is the only government policy that can change the natural rate of unemployment.
b. Monetary policy cannot change the natural rate of unemployment, but other government policies can.
c. Monetary policy and other government policies can both change the natural rate of unemployment.
d. No government policy, including changes in monetary growth, can change the natural rate of unemployment. 24.) Samuelson and Solow believed that the Phillips curve offered policymakers a menu of possible economic outcomes. a. true
b. false

25.) A tax increase has a. a multiplier effect but not a crowding out effect
b. a crowding out effect but not a multiplier effect
c. neither a multiplier or crowding out effect


d.) both a crowding out and multiplier effect


27.) If the marginal propensity to consume is 4/5, then a decrease in government spending of $1 billion decreases the demand for goods and services by $5 billion. a. true
b. false

29.) Permanent tax cuts shift the AD curve a. not as far to the right as do temporary tax cuts.
b. farther to the right than do temporary tax cuts.
c. not as far to the left as do temporary tax cuts.
d. farther to the left than do temporary tax cuts. 22.)If people eventually adjust their inflation expectations so that in the long run actual and expected inflation are the same, then policymakers 23.) Which of the following is correct according to the long-run Phillips curve? Samuelson and Solow believed that the Phillips curve offered policymakers a menu of possible economic outcomes. A tax increase has If the marginal propensity to consume is 4/5, then a decrease in government spending of $1 billion decreases the demand for goods and services by $5 billion. Permanent tax cuts shift the AD curve a. can exploit a tradeoff between inflation and unemployment in the short run but not in the long run.
b. can exploit a tradeoff between inflation and unemployment in the long run, but not the short run.
c. can not exploit a tradeoff between inflation and unemployment in either the short or long run.

d.) can exploit a tradeoff between inflation and unemployment in both the short run and the long run.

23.) Which of the following is correct according to the long-run Phillips curve? a. Changes in the money supply growth rate is the only government policy that can change the natural rate of unemployment.
b. Monetary policy cannot change the natural rate of unemployment, but other government policies can.
c. Monetary policy and other government policies can both change the natural rate of unemployment.
d. No government policy, including changes in monetary growth, can change the natural rate of unemployment. 24.) Samuelson and Solow believed that the Phillips curve offered policymakers a menu of possible economic outcomes. a. true
b. false

25.) A tax increase has a. a multiplier effect but not a crowding out effect
b. a crowding out effect but not a multiplier effect
c. neither a multiplier or crowding out effect


d.) both a crowding out and multiplier effect


27.) If the marginal propensity to consume is 4/5, then a decrease in government spending of $1 billion decreases the demand for goods and services by $5 billion. a. true
b. false

29.) Permanent tax cuts shift the AD curve a. not as far to the right as do temporary tax cuts.
b. farther to the right than do temporary tax cuts.
c. not as far to the left as do temporary tax cuts.
d. farther to the left than do temporary tax cuts.

Explanation / Answer

22.b 23.c. 24.true 25.b 27.true 29.d

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